2.3.12 EDITION

2/2/12

This week Dr. Tawfiq Al-Rabiah, the new Minister of Commerce and Industry, in his role as Chairman of Modon’s Board of Directors, signed contracts valued at $186 million for electrical infrastructure at five of Saudi Arabia’s industrial cities. Newly named Director General Saleh Al-Rasheed told Arab News that Modon’s next project will focus on the completion of services and infrastructure, so that the existing industrial cities that are under development become integrated services cities.

2/3/12

Saudi Arabia is further opening its investment markets to foreigners — and the word is: buy.

With strong fundamentals, little to no debt, and effective dividends, Saudi companies are compelling investment opportunities. But that’s not all. Saudi Arabia is going big into the solar and water industries — and there will be myriad ways to capitalize on making the kingdom more sustainable.

Reuters | 2/3/12

In a cavernous exhibition hall on the outskirts of Riyadh, dozens of young Saudi women stroll between corporate booths in search of jobs. Each has completed a 3-1/2 hour aptitude test that gives her scores for 10 behavioral characteristics and two types of cognitive ability. The results are shown to as many as 81 potential employers which schedule job interviews using a centralized, online system. It is Women’s Day at the first of a series of job fairs launched by the Saudi government this year to find employment for its citizens. In coming months the scheme aims to arrange interviews for 15,000 men and women out of 100,000 applicants, holding similar fairs in the cities of Jeddah and Dammam.

1/2/12

Hyatt Announces Plans for Three New Hotels in the Kingdom of Saudi Arabia; Agreements for Park Hyatt Riyadh, Grand Hyatt Jeddah, and Hyatt Regency Jeddah Bring Total to Six Hotels under Development in Saudi Arabia.

2/3/12

Saudi Arabia, the world’s biggest oil exporter, is poised to raise the price of its lowest-quality crude to the most in almost two years relative to the top grade as it benefits from the rising cost of shipping fuel.

2/3/12

International Monetary Fund managing director Christine Lagarde faces a tough but not impossible sell when she visits Saudi Arabia today to discuss a contribution from the oil-rich kingdom to the IMF’s $500 billion (Dh1.83 trillion) fundraising effort to fight the European debt crisis.

2/2/12

The U.S. Commission on International Religious Freedom (USCIRF) today called for the immediate release of 35 Ethiopian Christians who have been detained by Saudi Arabian police since December 15, allegedly for participating in a private religious gathering.

2/3/12

We all agree that women have proved themselves in fields such as education despite the many obstacles they encounter. One of the main obstacles is being deprived of their rights to continue education or work. It is generally accepted that it is the male authority which tries to deprive women of these rights.